What is the EMI Network Card annual fee?
Bajaj Finserv EMI Network Card also known as Insta EMI Card is a unique financing facility that allows you to shop on No Cost EMIs. With the help of this card, you can shop across a range of products such as home appliances, electronics and more. You can purchase your favourite products and split your bills into easy EMIs.
When you apply for our EMI Network Card, you need to pay a certain amount as the application fee. This is a one-time fee you need to pay when you apply for the card.
How is the annual fee charged on EMI Network cards?
However, there are additional fees and charges you might have to pay while you’re using the EMI Network Card. One such charge is the annual fee, which is payable every year and gets deducted from your registered bank account.
However, the annual fee is applicable only if you have not availed of any loan using the EMI Network Card in the preceding year. The duration of the preceding year is calculated at 12 months from last year’s validity month, which is printed on your card.
For instance, Anmol has an EMI Network Card that was issued to her in the month of May 2020, the date of payment for the annual fee will be June 2021. During this period, if she didn’t make any purchase using her EMI Network Card, she is liable to pay the annual fee. However, if she made a purchase in April 2021, the annual fee will be waived.
In case you have not used your EMI Network Card as per the above-mentioned condition, you have to pay the annual fee. It’s important to pay your annual fee to keep your card active.
In case due to any technical issue if your annual fee remains unpaid, in such a situation your card will get blocked, and you won’t be able to shop on No Cost EMIs.
If you are looking for our digital services to manage your existing card, you can visit our customer portal or download our app.
How to avoid or waive the annual fee?
- Meet the minimum spending requirement
Many Bajaj Finserv EMI Network Card users can have the annual fee waived by meeting a specific spending threshold within the card’s billing cycle. Check the terms to understand the required spending limit and plan your purchases accordingly. - Utilise promotional offers
Bajaj Finserv often rolls out special campaigns where users can waive the annual fee by participating in promotional events or availing of specific partner discounts. Stay updated with notifications and emails from Bajaj Finserv. - Pay your dues on time
Consistently paying your EMIs and other dues on time demonstrates financial discipline. Bajaj Finserv may reward loyal and punctual customers by waiving the annual fee as part of a good customer relationship programme. - Leverage loyalty programmes
Bajaj Finserv might offer rewards or points for frequent usage of the EMI Network Card. Accumulating and redeeming these points towards fee waivers can be an effective strategy. - Upgrade to a higher-tier card
Some premium versions of the Bajaj Finserv EMI Network Card come with benefits like no annual fee. Check if you are eligible for an upgrade that includes this feature. - Contact customer support
In certain cases, directly reaching out to Bajaj Finserv customer care and requesting a fee waiver might work, especially if you’ve been a long-term user or have a solid repayment record.
By following these steps, you can strategically avoid or waive the annual fee, maximising the value of your Bajaj Finserv EMI Network Card.
Benefits of having an EMI Network card
- Convenient shopping experience
The Bajaj Finserv EMI Network Card lets you shop for a wide range of products, including electronics, appliances, furniture, and more, across 1.2 lakh+ partner stores in India. The card eliminates the need for upfront payments, making large purchases more manageable. - No-cost EMI option
With the EMI Network Card, you can convert purchases into no-cost EMIs. This means you pay only the product price, with no additional interest or hidden charges, ensuring cost-effective financial management. - Flexible repayment tenures
Bajaj Finserv provides repayment tenures ranging from 3 to 24 months, allowing you to choose a plan that best fits your financial situation. - Digital and contactless process
The card offers a completely digital onboarding and transaction experience. You can make purchases and track your EMIs through the Bajaj Finserv app or website without needing to carry a physical card. - Pre-approved loan limit
The EMI Network Card comes with a pre-approved loan limit of up to Rs. 2 lakh, giving you instant purchasing power without lengthy approval processes. - Exclusive offers and discounts
Cardholders gain access to exclusive partner deals, festive discounts, and cashback offers, making purchases even more rewarding. - Wide range of products and services
The EMI Network Card covers over a million products and services, including healthcare treatments, travel bookings, and subscription services, offering versatility in spending. - No foreclosure charges
You can choose to foreclose your loan at any time without incurring additional fees, providing flexibility and freedom in financial planning. - Minimal documentation required
The Bajaj Finserv EMI Network Card requires minimal documentation, simplifying the process and ensuring a hassle-free experience for first-time users.
With these benefits, the Bajaj Finserv EMI Network Card makes financial management and shopping convenient and efficient.
